BNP Paribas Corporate Finance U.S. Has Stand Out Year in Energy & Natural Resource Group

2007 was a milestone year for BNP Paribas Corporate Finance in the Americas. BNP Paribas Energy & Natural Resources Group (the Group) has been involved in eight significant transactions in the calendar 2007 period, acting as financial advisor to Zijin Consortium, EnCana, Groupe Delangis and on several transactions for Conduit Capital Partners LLC and CITGO Petroleum Corporation.

The Energy and Natural Resource sector, which was created in 2005, is one of three core focus areas for Corporate Finance in North America in addition to Consumer and Industrials. BNP Paribas Corporate and Investment Bank has developed over many decades a global leadership role in leveraging the strong Oil & Gas and Metals & Mining franchises of BNP Paribas Energy, Commodities, Export and Project Finance (ECEP) team. Commenting on the synergies between the two teams, Bart Schouest Co-Head of Energy and Commodities Structured Debt said, BNP Paribas success in this sector stems from our 30 years of expertise in the energy and commodities business, our international network and our deep commitment to our clients.

The Energy & Natural Resources Corporate Finance Americas team acted as the global financial advisor to Zijin Consortium, a Chinese mining conglomerate, in connection with its acquisition of Monterrico Metals, a mining development group listed on the AIM board of the London Stock Exchange. In April 2007, the Zijin Consortium launched a General Offer which proposed to acquire the entire shareholding of Monterrico Metals. This was the first successful acquisition launched by a Chinese group for the controlling interest in a LSE-listed company via a General Offer and the first successful overseas acquisition launched by a Chinese group in the metals & mining sector.

The Group also acted as exclusive financial advisor to EnCana Corporation, a leading North American natural gas producer with an enterprise value of approximately USD 60 billion. BNP Paribas advised EnCana Corporation on the sale of its wholly-owned affiliate EnCana International Chad Ltd., which owns exploration assets in Chad, to China National Petroleum Corporation (CNPC), one of the worlds leading integrated energy companies, for approximately USD 203 million.

In October 2007, BNP Paribas Energy & Natural Resources Group acted as exclusive financial advisor to Groupe Delangis on the sale of a 50% interest to Sprague Energy. Groupe Delangis, through its main affiliate Kildair Service Ltée (Kildair), is a premier marketing company that trades a wide range of heavy fuel oil and other petroleum products in Northeast Canada and the Northeastern U.S. Sprague is one of the largest suppliers of energy and materials handling services in New England and is a subsidiary of Axel Johnson, Inc., a member of the Axel Johnson Group of Stockholm, Sweden.

The Group was also the exclusive financial advisor to Conduit Capital Partners LLC, a New York City-based private equity firm focused on the independent electric power industry in Latin America and the Caribbean, in connection with significant disposals of previous investments. BNP Paribas advised the firm on the sale of a portfolio of five power and energy investments located in Mexico, Colombia, Jamaica and Peru. In order to maximize value for Conduit, BNP Paribas recommended and successfully executed a break-up sale approach which allowed each asset to be optimally valued by buyers who were strategically motivated. The aggregate enterprise value of the assets sold totals approximately USD 600 million.

Finally, BNP Paribas Energy & Natural Resources Group acted as exclusive financial advisor to CITGO Petroleum Corp., the wholly-owned U.S. refining and distribution subsidiary of state-owned Petroleos de Venezuela S.A., in connection with the sale of U.S. pipeline and terminal assets located in the Southwest and Midwest. In order to maximize value for CITGO, the assets were offered on both a portfolio sale basis as well as on a break-up basis. CITGO sold its Eagle Pipeline System in Texas and Oklahoma, including associated terminals, to Explorer Pipeline. CITGO also entered into a separate agreement with Marathon Petroleum Co. for the sale of its minority interest in the Inland Pipeline in the Midwest, together with four terminals in Ohio. This transaction is expected to be completed in early 2008.

Commenting on this past years success, Elsa Berry, Head of Corporate Finance North America said, Weve had a tremendously successful year, especially in the Energy and Natural Resource division. We anticipate this momentum will carry into the New Year under the leadership of recently hired Managing Director Ian H. Fay, and we look forward to a successful 2008. We are committed to growing this platform and are looking to add more resources in early 2008.

About BNP Paribas

BNP Paribas (www.bnpparibas.com) is a European leader in global banking and financial services and is one of the 5 strongest banks in the world according to Standard & Poors. The group is present in over 85 countries, with 161,000 employees, including 125,000 in Europe and 15,000 in North America. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all of its business lines, the banks two domestic markets in retail banking are France and Italy. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.

Contacts:

Press:
BNP Paribas
External Communications, New York
Edwina Frawley-Gangahar, +212-841-3719
or
External Communications, New York
Kerrie McHugh, +212-841-3809
or
Michele Sicard, head of Corporate Communications
+212-841-3070

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